All AnswersWhich exam I suppose to clear for getting admission in MBA in finance management?
Asked by Akash nayak about 3 years ago
Study abroad expert
An MBA is still among the most coveted degrees among career aspirants. You must remember things while planning to appear for an MBA entrance exam and then enrol into an MBA program. The first 13 are the most popular MBA exams, including the CAT, XAT, GMAT, MAT, etc.
An MBA is typically a 2-year course that provides a foundation in the core concepts of business. These concepts include management, finance, capital markets, economics, logistics, sales, telecommunications, human resource management, marketing, and supply chain management. These are also some of the most common and popular MBA specializations
MBA Entrance Exam: CAT - Common Admission Test
CAT is a computer-based admission test (but not an online exam) conducted for admission to various management programs of IIMs, including Post Graduate Programs (PGP) in Management, Fellow Programs in Management (FPM/ PhD) etc.
MBA Entrance Exam: CAT Exam Eligibility Criteria
You must hold a Bachelor's level degree, with at least 50% marks or equivalent CGPA (45% in case of SC, ST and Persons with Disability (PWD)).
In order to convert your CGPA to equivalent marks (if a scheme for such conversion does not exist according to your university), your CGPA will be divided by the maximum possible CGPA, and the quotient will be multiplied by 100.
MBA Entrance Exam: GMAT – Graduate Management Aptitude Test
GMAT is organized by the Graduate Management Admission Council (GMAC) throughout the year. Also, GMAT is required for getting admission to MBA programs globally or for Masters in Finance& related courses. And GMAT is held in 112 countries all over the world.
It is an adaptive computer exam, which means that upcoming questions get tougher if you keep getting answers right. There is no negative marking in the GMAT exam pattern. Your GMAT score shall be valid for a period of 5 years.
MBA Entrance Exam: GMAT Eligibility Criteria
You need to be over 18 years to be eligible to appear for the GMAT. For candidates between the ages of 13 to 17, parental approval will be needed. There is no upper age limit to appear for the GMAT. There is no specific eligibility criterion too.
MBA Entrance Exam: GMAT General Exam Pattern
The GMAT MBA Entrance Exam pattern consists of 4 sections:
- Analytical Writing Assessment
- Integrated Reasoning
- Quantitative Reasoning
- Verbal Reasoning
GMAT MBA Entrance Exam spans a total of approximately 3 hours and 30 minutes including 2 optional breaks of 8 minutes each. Recently, GMAC announced the Select Section Orderprovision which will enable you to select the order of the sections in which you want to write your exam.
For admission into an MBA program specializing in Finance Management, the entrance exam requirements can vary by school and location, but there are a few standardized tests that are commonly accepted across most institutions.
The Graduate Management Admission Test (GMAT) is the most prominent and universally accepted exam for MBA admissions. It is designed to assess your analytical, writing, quantitative, verbal, and reading skills in standardized test conditions. Business schools use this test as a criterion for admission into a wide range of graduate management programs.
Alternatively, the Graduate Record Examinations (GRE) is also accepted by many MBA programs worldwide. While the GRE is broader in scope, covering verbal reasoning, quantitative reasoning, and analytical writing, it is also a valid test for prospective MBA students, particularly those who may consider multiple types of graduate programs.
For non-native English speakers, additional English proficiency testing may be required. The TOEFL and IELTS are the most common tests required by universities to assess the English language proficiency of applicants. The choice between TOEFL and IELTS largely depends on the university’s preference, but both are widely accepted.
For admission into an MBA in Finance Management, candidates generally need to clear the GMAT or GRE. These are the two most widely accepted exams by business schools globally.
The GMAT (Graduate Management Admission Test) is preferred by finance-focused programs due to its emphasis on quantitative skills, which align with finance management. A competitive GMAT score for top business schools usually falls between 650-750.
Some universities also accept the GRE (Graduate Record Examination) as an alternative, though it's more common in broader graduate programs.
Additionally, you may need to demonstrate proficiency in English through exams like the TOEFL or IELTS if you are non-native speakers.
Ultimately, GMAT is the most relevant for finance-specific programs, especially for those targeting top schools.